One of the first things you need to do when buying a new car is to get insurance. All states require an auto insurance policy or another type of proof that you are financially responsible. The type of car you buy and your previous driving record will affect how much you will pay for your policy. You should start shopping for a policy before you buy a new car. You will have a good idea of your premiums based on the type of car you're looking for.
If you buy your new car using a loan, your lending institution will require that you carry comprehensive coverage. Comprehensive coverage will pay for all types of damage, including hail, theft, vandalism, and collision. You will need to carry full coverage until your loan is paid off. Once you make the final payment, you can reduce the amount of coverage. You can reduce your coverage to collision or PL/PD. You will still be required to maintain at least your state's minimum required coverage.
After you buy your new car, most insurance carriers offer a grace period. You have seven to 30 days to transfer your existing policy from your old car to the new one. Your coverage will remain in good standing if you update your policy within that pre-determined time frame. If you plan on buying a new car, talk to your agent. They will make sure your policy is transferred in a timely fashion. It's best to transfer your coverage immediately after buying your new car.
The least expensive cars to insure are those involved in the fewest claims. Sedans and family cars often fall into this category. Sports cars and SUVs are often the most expensive to insure when they are new. Your insurance agent can help you when it comes to finding an affordable policy. The discounts you qualify for may lower your premiums substantially. Talk to your agent to find out which discounts you can use.
When you are ready to buy car insurance, you must shop around. Compare rates as well as policies. Ask your family and friends what carriers they prefer. Meet with multiple agents and get to know them. Find an agent that you feel comfortable working with. It's also important to ask about any discounts you may be eligible for.
Make your new car purchase enjoyable and worry-free by securing the perfect car insurance policy. At Reata Insurance Group, our dedicated agents are here to assist you every step of the way. With our reliable expertise, we have the answers to all your insurance inquiries. Schedule an appointment today to connect with one of our knowledgeable agents. Experience peace of mind knowing that you're in good hands. Call us now at 512-420-9333.
